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Proponemos un modelo cuasi racional de ajustes de precios en el mercado minorista que es coherente con la evidencia … micro y macro de la dinámica de los precios. Nuestro marco está basado en la idea de que evitar errores en las decisiones … implica un coste. Dada la asumida función del coste de evitar errores, los momentos escogidos para cambiar los precios se …
Persistent link: https://www.econbiz.de/10012530409
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This paper proposes two models in which price stickiness arises endogenously even though fi rms are free to change their prices at zero physical cost. Firms are subject to idiosyncratic and aggregate shocks, and they also face a risk of making errors when they set their prices. In our fi rst...
Persistent link: https://www.econbiz.de/10009319997
This paper proposes a model in which retail prices are sticky even though firms can always change their prices at zero cost. Instead of imposing a "menu cost", we assume that more precise decisions are more costly. In equilibrium, firms optimally make some errors in price-setting, thus...
Persistent link: https://www.econbiz.de/10011083997
ajustar precios y salarios varían con el estado agregado e idiosincrásico debido a los «costes de control». Tanto las empresas … precisión. Esto impide que las empresas y los trabajadores ajusten precios y salarios sin error y en el momento justo. Simulamos … el modelo seleccionando los parámetros de forma que reproduzca el tamaño y la frecuencia de los cambios en los precios y …
Persistent link: https://www.econbiz.de/10012532214
We model retail price stickiness as the result of errors due to costly decision-making. Under our assumed cost function for the precision of choice, the timing of price adjustments and the prices firms set are both logit random variables. Errors in the prices firms set help explain micro...
Persistent link: https://www.econbiz.de/10011605738
We propose a near-rational model of retail price adjustment consistent with microeconomic and macroeconomic evidence on price dynamics. Our framework is based on the idea that avoiding errors in decision making is costly. Given our assumed cost function for error avoidance, the timing of...
Persistent link: https://www.econbiz.de/10010678689
We model retail price stickiness as the result of errors due to costly decision-making. Under our assumed cost function for the precision of choice, the timing of price adjustments and the prices firms set are both logit random variables. Errors in the prices firms set help explain micro...
Persistent link: https://www.econbiz.de/10011067265
El objetivo de este trabajo es analizar las diferentes estrategias de internacionalización empleadas por China desde el inicio de su proceso de liberalización económica hasta la actualidad, en un contexto en el que su modelo de crecimiento se encuentra inmerso en un proceso de reequilibrio....
Persistent link: https://www.econbiz.de/10012523791
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